Longevity risk presents a significant challenge for retirees, with medical advancements potentially extending lifespans and creating decades-long retirements that require careful financial planning.

• Running out of money in retirement is often feared more than death itself
• Life expectancy now averages 79.5 years for men and 82 years for women
• Most retirees now believe they need about $1.5 million to retire comfortably
• Estimate your personal timeline based on health, family history, and lifestyle
• Consider delaying Social Security to age 70 for up to 77% higher payments
• Explore appropriate annuities for guaranteed lifetime income
• Consider adopting a flexible withdrawal strategy with different "buckets" for different timeframes
• Consider how market volatility impacts your withdrawal strategy
• Plan for long-term care before you may need it, with 70% of people over 65 likely needing care
• Average nursing home costs can exceed $8,669 per month nationally
• Explore hybrid long-term care and life insurance options
• Consider part-time work or phased retirement for both financial and emotional transition

Schedule a complimentary consultation at MasterPlanRetire.com or call 770-980-9262.

Have a topic or question you'd like Mark and Evan to address in a future episode? Email us at [email protected] or call 770-980-9262.

https://masterplanretire.com/
Catch all episodes of our podcast at https://www.masterplanyourretirement.com/resources/episodes
Listen to Mark Fricks on Saturdays at 12:00 p.m. on XTRA 106.3FM WFOM.
Sign up for one of our upcoming events at https://www.masterplanyourretirement.com/events
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Visit masterplanretire.com to access our retirement checklists, podcasts, and schedule a complimentary consultation.
Call 770-980-9262 to speak directly with someone about your retirement planning needs.

https://masterplanretire.com/

Catch all episodes of our podcast at https://www.masterplanyourretirement.com/resources/episodes

Listen to Mark Fricks on Saturdays at 12:00 p.m. on XTRA 106.3 FM WFOM.
Sign up for one of our upcoming events at https://www.masterplanyourretirement.com/events

Purchase Mark’s book, The Road Less Traveled: Turning Your Retirement Worries Into an Excursion of a Lifetime, on Amazon: https://a.co/d/4fx94Al

Advisory services offered through MasterPlan Retirement Consultants, Inc., a Registered Investment Advisor in the state of Georgia. Insurance, tax and commodities services offered through Fricks and Associates, Inc. dba MasterPlan Retirement Consultants. The aforementioned are affiliated companies.